HAPPY FINANCIAL YEAR 2021-2022 Nature of Compliance Act Due Date Depositing of TCS for March 2021 Income Tax 07.04.2021 Filing of GSTR-7 (TDS Deductor) for the month of March 2021 GST 10.04.2021 Filing of GSTR-8 (TCS Collector) for the month of March 2021 GST 10.04.2021 Filing of GSTR-1 (other than QRMP) for March 2021 […]
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YEAR ENDING TASKS IN GST FOR FY 2020-21
Deadlines Ended to 31st March 2021 Annual Return The due date to furnish GSTR-9 and GSTR-9C (whose turnover during a financial year exceeds INR 5 crores) for FY 2019- 20 has been extended till 31-03-2021 vide notification number 04/2021-central tax dated 28-02-2021. Option for composition scheme The functionality to opt for composition has been made […]
MCA UPDATE: NOTIFICATION DATED 24.03.2021
Mandatory use of Accounting Software having Audit Trail FY commencing from 1st April, 2021 every Company shall use Accounting Software having feature to record audit trail of each and every transaction, creating an edit log of changes made in books of account along with the date when such changes were made & ensuring that the […]
THINGS TO DO BEFORE 31ST MARCH 2021
There are certain tax tasks which we need to complete by the 31st March 2021. Submitting the details of salaries received from earlier employer If you are a salaried person and were employed with more than one employer in the current year, please furnish details of your salaries from the previous employer/s in Form No. […]
Opting-in for Composition Scheme for Financial year 2021-22
How to opt-in for Composition Scheme: The eligible registered taxpayers, who want to opt-in for the composition scheme for the FY 2021-22, need to file FORM GST CMP-02 application, on or before 31st March 2021, post login on GST portal. The taxpayers may navigate as follows: Log-in>Services > Registration > Application to opt for Composition […]
Significant Changes in Income Tax W.E.F. 1st April, 2021
Pre-filled ITR Forms A major change in ITR Form is expected as per Budget 2021 (Pre-Filed ITR) will be introduced. The Prefilled ITR Forms will have information of Capital Gains from Listed Securities, Dividend Income, Interest from Banks/Post Office, etc. Earlier Pre-filed ITR form was available for salaried employees where Income was reflected on basis […]
COMPLIANCE CALENDAR JANUARY 2021
Wishing you and your family a safe, healthy, and prosperous new year! Nature of Compliance Act Due Date/Extended Due Date Depositing of TDS/ TCS for Dec 2020 Income Tax 07.01.2021 Depositing of Equalisation levy for Dec 2020 Income Tax 07.01.2021 ITR filing date for Non-Audit Assessee for FY 2019-20 Income Tax 10.01.2021 Filing of […]
E – Invoicing mandatory for taxpayers with aggregate turnover exceeding Rs. 100 Cr. from 1st January 2021
From 1-1-2021, Government has mandated e-invoicing for the taxpayers with aggregate turnover exceeding Rs. 100 Cr. (in any preceding financial year from 2017-18 onwards). Updates on e-invoice – enablement, testing, help options & resources Updates on e-invoicing Certain set of taxpayers had started e-invoicing from 1st October, 2020. In the month of October, 2020, about […]